Trading DME Contracts

Brent vs. Dubai (Platts) Crude Oil Futures (DBI)

Trading Unit
 
1,000 U.S. barrels (42,000 gallons)
 

Price Quotation
 
U.S. dollars and cents per barrel
 

Trading Symbol on Globex
 
Globex Thomson Reuters Bloomberg
DBI 0#1DBI: IDBA
 

Trading Hours
 
Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.
 
Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe Daylight Savings Time.
 

Trading Months
 
36 months
 

Minimum Price Fluctuation
 
$0.001 per barrel ($1.00 per contract)
 

Maximum Daily Price Fluctuation
 
None
 

Daily Settlement
 
(A) The Floating Price for each contract month is the arithmetic average of the Brent Crude Oil (ICE) Futures first nearby contract settlement price minus the mid-point between the high and low quotations from Platts Crude Oil Marketwire for the Dubai front month price for each Trading Day during the contract month (using non-common pricing), except as noted in (B) below.
 
(B) The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil (ICE) Futures contract when the settlement price of the second nearby Brent Futures contract will be used.
 

Final Settlement Price
 
Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month.
 
 

Last Trading Day
 
Trading in the nearby Contract Month shall cease on the last Trading Day of the contract month.
 

Settlement Type
 
Financial
 

Rulebook Chapter
 
 

Governing Law
 
English Law
 

Holidays

Please visit the DME holiday calendar at http://dubaimerc.com/trading-hours-and-holiday-calendar and the Platts trading schedule at http://www.platts.com/


Disclaimer

PlattsTM is a trademark of McGraw-Hill Financial, Inc. and has been licensed for use by DME. The Brent vs. Dubai (Platts) Crude Oil Futures Contract is not sponsored, endorsed, sold or promoted by PLATTS and PLATTS makes no representation regarding the advisability of buying, selling and/or investing in the Brent vs. Dubai (Platts) Crude Oil Futures Contract.